Ondo Finance brings tokenized U.S. Treasuries to the XRP Ledger (XRPL), opening the door to faster, more accessible real-world asset trading on a decentralized network.
Ondo Finance has officially launched its tokenized U.S. Treasury product, OUSG, on the XRP Ledger (XRPL). The integration opens the door for institutional investors to access U.S. Treasuries directly on-chain using Ripple’s stablecoin, RLUSD, as the settlement asset.
The deployment marks the fulfillment of a January 2025 announcement, in which Ondo pledged to bring OUSG to the XRPL within six months. With the token now live, the platform enables round-the-clock minting and redemption for qualified buyers, bypassing the constraints of traditional banking hours.
Ondo Finance and XRPL Pave the Way for the Future of Tokenized Treasuries
With over $1.3 billion in total value locked (TVL), Ondo Finance is a leader in real-world asset tokenization. Its flagship OUSG fund accounts for nearly $700 million, ranking just behind BlackRock’s BUIDL and Franklin Templeton’s BENJI in the growing market for tokenized Treasuries.
Ripple confirmed the collaboration on its official X account, highlighting the XRPL’s purpose-built infrastructure. The ledger’s support for native tokenization, decentralized exchange (DEX) functionality, and enterprise-grade features, such as Decentralized Identifiers (DIDs), makes it a strategic fit for regulated financial products.
“This is a major step forward in enabling programmable, compliant, and efficient access to yield-bearing assets,” said Ian De Bode, Chief Strategy Officer at Ondo Finance.
Tokenized Treasuries Boom as Market Hits $7 Billion
The move also arrives as the broader tokenized Treasury market surpasses $7 billion in total value locked (TVL), driven by rising demand for blockchain-native cash management solutions.
Analysts at Boston Consulting Group estimate the overall tokenization market could reach $19 trillion by 2033, with Treasuries serving as a low-risk entry point for institutions transitioning to on-chain finance.
By eliminating settlement delays and legacy infrastructure hurdles, the OUSG integration provides institutional investors with a flexible, capital-efficient way to deploy idle cash. RLUSD acts as a bridge between DeFi and TradFi, enabling seamless transitions between tokenized Treasuries and other digital assets.
Meanwhile, XRP Ledger’s momentum continues to build. Following its recent partnership with Guggenheim for digital commercial paper and Dubai’s tokenized real estate initiative, XRPL is carving out a leadership role in the asset tokenization ecosystem. Yet, despite these advancements, XRP itself has struggled to reflect the network’s growth, trading at $2.28, down 0.3% at the time of writing.
Commenting on this, pro-crypto attorney Bill Morgan noted, “XRP is seeing a wave of positive developments, but the price action remains frustratingly flat.”
Still, the Ondo Finance partnership reinforces XRPL’s appeal as a compliant, high-performance chain for institutional-grade digital finance. As tokenization trends accelerate, the successful onboarding of OUSG may prove to be a key inflection point for both Ondo and the XRP Ledger.
